Canada to offer more than C$1 bln over 10 yrs to auto sector-CTV

Tue Oct 6, 2015 8:22am EDT
 
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TORONTO Oct 6 (Reuters) - Canada's Conservative Prime Minister Stephen Harper is set to promise more than C$1 billion ($763.36 million) in assistance over 10 years for the automotive industry, CTV News reported on Tuesday, one day after agreeing to a new trade pact that critics say will hurt the Canadian industry.

Harper is campaigning ahead of Canada's Oct. 19 election in a tight race with the centrist Liberal party. Citing an unnamed source, CTV said he would announce loans and grants to attract auto parts manufacturers to Canada, and incentives for Canadian companies to modernize their facilities, at an event near Toronto on Tuesday.

The left-leaning New Democratic Party has criticized Harper for backing the 12-nation Trans-Pacific Partnership during an election, and said the deal will hurt auto workers.

The TPP would give Japan's automakers a freer hand to buy parts from Asia for vehicles sold in the United States. Unifor, which represents auto workers in Canada, has said the change will put jobs at risk.

Canadian officials could not immediately be reached to confirm the report.

($1 = 1.3100 Canadian dollars) (Reporting by Allison Martell, additional reporting by Randall Palmer)